Nakilat net rises 24%

Fleet growth and a red-hot LPG market have helped Qatar Gas Transport Company Limited (Nakilat) jack up its first half profit by a quarter.

The world’s largest LNG shipowner carded a profit of QAR 446m ($112m) in the six months to the end of June.

This beat the QAR 360m recorded in the same period of 2013, a statement said.

Nakilat says the “remarkable improvement” in LPG rates and improved efficiency at its shipyard aided the stronger showing.

“Nakilat will continue to look for good opportunities to acquire new vessels, and to increase the utilization rate for our shipyard facilities at Erhama Bin Jaber Al Jalahma Shipyard,” it said.

The owner boasts 61 LNG vessels and four large LPG carriers as well as ship repair facilities and joint ventures with Keppel Offshore & Marine and Damen Shipyards.